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The undisputed ownership of the CBK complex may ultimately prove to be one of the most rewarding, defensive, and forward-looking corporate victories of modern-day energy transition

In case you missed my previous newsletters that also tackled the Caliraya-Botocan-Kalayaan (CBK) project, do check them out here and here.

The Aboitiz group’s tactical acquisition of the CBK hydroelectric complex via a P36.27-billion bid by the Thunder Consortium represents a profound structural positioning within the future architecture of the Luzon electricity grid.

MODEL. Aboitiz Power chairman Sabin Aboitiz shows President Ferdinand Marcos a 3D model of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plant during the turnover of the power plant on February 9, 2026 in Laguna. Photo by Presidential Communications Office